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Longtime Volunteer Joins the Mayne Heritage Society

Dr. Bill and Molly Sasser have supported the College with their time and treasure for many years.

Dr. Bill and Molly Sasser have supported the College with their time and treasure for many years.

Second vice president. Secretary of the board of governors. Foundation board member. These are just a few of the ways that Dr. William "Bill" F. Sasser, MD, FACS, a thoracic surgeon in St. Louis, Missouri, has served the American College of Surgeons since becoming a Fellow in 1971.

You may also know him as the host of the Fellows Leadership Society Luncheon, which he has overseen since 2006. Dr. Sasser and his wife, Molly, had supported the Foundation in almost every way, including a major gift that they gave in conjunction with their son, William F. Sasser, III, in 2006.

However, Dr. Bill and Molly Sasser recently confirmed their intent to join the Mayne Heritage Society—the Foundation's planned giving program—and are now donors through all giving societies within the ACS Foundation.

"I was recruited by Bob Berry to serve on the Committee on Development (the Foundation's precursor), once my term as second vice president expired. I wanted to continue to serve the College, and I found that its philanthropic programs were a compelling way to do it," Dr. Sasser explains. He continued to serve once the Committee on Development transitioned into the ACS Foundation and has been a board member for six years.

He expounded on the reasons to serve the College and ACS Foundation, saying that he had received so much in both his professional and personal life, through continuing education and networking with his peers. Directing his legacy gift commitment to the Foundation's Sustaining Fund was important to Dr. Sasser so that he could help the College where it is needed the most.

"Having the choice of where the gift goes is important, and I encourage more Fellows to take advantage of this," he says. The gift will also increase both recognition of the Fellows Leadership Society (Presidents' Circle) and the 1913 Legacy Campaign (Major Gifts Level).

"Giving through my estate plans was an easy way to give back to the College for all I've received. I simply informed my attorney and provided him with bequest language to include the College as a beneficiary. It feels great to know that I'm not only supporting the mission of the College now, but into the future," he says.

Learn More
If you are interested in joining Dr. Bill and Molly Sasser in the Mayne Heritage Society, please contact Shane Hollett at shollett@facs.org or 312-202-5506. You can also visit our website to explore ways for ways to make a lasting gift to the ACS Foundation and learn about the tax benefits you can receive through gift planning.

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A charitable bequest is one or two sentences in your will or living trust that leave to American College of Surgeons Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to American College of Surgeons Foundation, a nonprofit corporation currently located at Chicago, IL, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

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tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to ACS Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to ACS Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to ACS Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and ACS Foundation where you agree to make a gift to ACS Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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